Himax Technologies (NASDAQ:HIMX) Sees Large Volume Increase – Should You Buy?

Himax Technologies, Inc. (NASDAQ:HIMX) saw strong trading volume on Thursday . 718,932 shares traded hands during trading, a decline of 60% from the previous session’s volume of 1,779,911 shares.The stock last traded at $8.80 and had previously closed at $8.26.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird upped their target price on shares of Himax Technologies from $7.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, December 13th.

Himax Technologies Stock Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.37 and a current ratio of 1.64. The stock has a market cap of $1.55 billion, a PE ratio of 20.11 and a beta of 1.94. The company’s 50-day moving average price is $6.93 and its two-hundred day moving average price is $6.47.

Himax Technologies (NASDAQ:HIMX) last released its earnings results on Thursday, November 7th. The semiconductor company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The company had revenue of $222.40 million during the quarter, compared to the consensus estimate of $205.93 million. Himax Technologies had a return on equity of 9.06% and a net margin of 8.77%. Himax Technologies’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS.

Himax Technologies declared that its Board of Directors has initiated a share repurchase plan on Wednesday, December 4th that allows the company to buyback $20.00 million in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 1.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Himax Technologies

A number of large investors have recently made changes to their positions in HIMX. Point72 Hong Kong Ltd bought a new position in shares of Himax Technologies in the 2nd quarter worth approximately $5,817,000. Point72 Asset Management L.P. grew its position in shares of Himax Technologies by 1,104.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 580,500 shares of the semiconductor company’s stock worth $4,609,000 after buying an additional 532,300 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Himax Technologies by 32.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,665,858 shares of the semiconductor company’s stock worth $9,162,000 after acquiring an additional 407,400 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Himax Technologies by 324.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 296,210 shares of the semiconductor company’s stock valued at $1,629,000 after acquiring an additional 226,386 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in Himax Technologies during the third quarter worth about $1,125,000. 69.81% of the stock is currently owned by institutional investors.

About Himax Technologies

Himax Technologies, Inc, a fabless semiconductor company, provides display imaging processing technologies in China, Taiwan, the Philippines, Korea, Japan, Europe, and the United States. The company operates in two segments, Driver IC and Non-Driver Products. It offers display driver integrated circuits (ICs) and timing controllers that are used in televisions, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, and other products.